This actually would have been an interesting idea and a plausible opportunity to capitalize on the wave of Musk/Twitter hate. I'd say they've already missed it though. It's not like there wasn't a lot of warning, they had months of advance notice to get something ready. Now, I'd say that every day that goes by makes a "reactionary" Twitter alternative less and less relevant. No doubt something will replace them eventually, but the time for a big company to come out with their own "hey we're not Twitter" platform has already passed imo
This is a good time for them to do it. They have the tech and the users but breaking focus from their other projects could be detrimental to their well being. It would be a lot of work for a product that has had a history of losing money. It's not worth the resources.
"Twitter is in crisis and Meta needs its mojo back," one Meta employee wrote in a post, according to the New York Times. "LET’S GO FOR THEIR BREAD AND BUTTER."